1348 F St · La Porte, IN 46350

$85,000

2 bd · 1.0 ba · 696 sqft · SingleFamily public records · 1 Days on market

Built 1942 Est $122k · 31% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Selling our rental property. AS IS. Accepting all reasonable offers. Ready to move in or rent as an investment property. All appliances are staying. Large fenced in yard with 1 & Acirc; & frac12; car garage. Located in town close to all LaPorte has to offer. Lakes, parks, walking paths and shopping. * NEW * 2016 Roof (wood & amp; shingles) 2016 Rear Porch 2016 Furnace Motherboard 2017 Bathroom Flooring (wood and tile) 2018 Fresh Paint 2025 Windows Water heater is 2005 - working great Furnace is 2003 - working great Contact for more details/questions/showings

Key facts

• Fresh paint
• New rear porch
• Large fenced in yard

Tags

• LARGE FENCED IN YARD
• NEW ROOF
• NEW REAR PORCH
• NEW FURNACE MOTHERBOARD
• NEW BATHROOM FLOORING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 11.4% vs local median 3.5% in La Porte — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Handley Elementary School (math 37% / reading 37%, grade F, #550 of 994 statewide, top 57%, 391 students, 75% FRL); Laporte High School (math 34% / reading 57%, 1,875 students, 54% FRL) — zoned schools average 65% FRL vs 44% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 263 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent is only 18% of the median local income ($74k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $85k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.42%
• DSCR: 1.82
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $122,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 and 811 Kingsporte Ln	0.04mi	2/1.0	696 (0%)	2mo	$51,150	$73	97
616 and 620 Kingsporte Ln	0.05mi	2/1.0	696 (0%)	2mo	$50,600	$73	96
617 Kingsporte Ln	0.04mi	2/1.0	696 (0%)	7mo	$111,250	$160	92
826 Kingsporte Ave	0.12mi	2/1.0	696 (0%)	4mo	$89,000	$128	91
1368 Kingsporte Ln	0.04mi	2/1.0	696 (0%)	20mo	$52,000	$75	82
502 Circle Dr	0.14mi	2/1.0	725 (+4%)	8mo	$139,000	$192	80
806 Kingsporte Ave	0.07mi	2/1.0	696 (0%)	24mo	$95,000	$136	77
1306 J St	0.24mi	2/1.0	700 (+1%)	20mo	$166,000	$237	71
1112 6th St	0.58mi	2/1.0	720 (+3%)	2mo	$140,000	$194	66
404 E 14th St	0.57mi	2/1.0	725 (+4%)	7mo	$150,000	$207	61
1103 Farrand Ave	0.60mi	2/1.0	672 (-3%)	19mo	$118,500	$176	51
1607 Farrand Ave	0.56mi	2/1.0	750 (+8%)	15mo	$170,000	$227	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.40×
• Total profit: $9,454
• Equity at exit: $12,674

10-year hold

• IRR: 19.2%
• Equity multiple: 2.60×
• Total profit: $38,043
• Equity at exit: $7,349

Cash invested: $23,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46350

• Active inventory: 263
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$21 /mo · $256/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $365

Break-even live

Break-even rent $636

Max offer price $85,000

Occupancy floor 62%

Sensitivity live

Price	-10% $413	-5% $389	+0% $365	+5% $341	+10% $317
Rent	-10% $278	-5% $322	+0% $365	+5% $409	+10% $452
Rate	-1.0pp $408	-0.5pp $387	base $365	+0.5pp $343	+1.0pp $321

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Hiawatha Ave La Porte, IN	1.0–2.0	1.0–1.5	909	$1,204	$1.32	45d	2	0.64mi

Listing history 3 events

1. 2011-01-06
   soldstatus $25,000
2. 2010-10-05
   historical
3. 2010-06-01
   listed $23,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $256 · $21/mo
• Projected year-2 tax: $489 · $41/mo
• Expected delta: +$233/yr (+$19/mo · 91.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,181
• − Mortgage interest: −$4,761
• − Property taxes: −$256
• − Insurance: −$425
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,473
• Taxable income: $3,157
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $3,625/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

Amenities A+ Commute F Cost of living A+ Crime B Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+4.6% since first listed

3 events — show timeline

• 2011-01-06 Sold (Public Records) $25,000 Public Records
• 2010-10-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2010-06-01 Listed $23,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-3.3%/yr

Latest (2024): $256 · -1.6% YoY. Source: county tax records.